Yeah and Jeff I'll just add this Mike you know I would say you know we expect all our verticals to contribute to getting to that milestone but you know if you look at you know really some of the stuff we're seeing adding more software and geographic growth and non top foreign education being notable if you look at travel the combination of the luxury experiential and hospitality businesses you know both are seeing really good metrics right you know deal size being increased sales cycles trending faster You'll feel really good about our ability to layer in additional products, different geographies, subsegments into that business. So you'll feel really good about the path to get there and we have lots of different growth levers to help us.

Aug 4, 2026 / receipt, needs a key / Mike, CFO | earnings call 2026-08-04 | transcript af23e326-89f3-455a-8fe1-4955f18cd90f | chars 52710-53458 | segment 53

Travel continues to perform well, and the payments modernization in our hospitality business is outperforming our expectations.

Aug 4, 2026 / receipt, needs a key / Mike Massaro, CEO | earnings call 2026-08-04 | transcript af23e326-89f3-455a-8fe1-4955f18cd90f | chars 3791-3918 | segment 3

Specifically, probably, think of us as going to Europe. It's a big area for us, obviously, with our existing travel business in Southeast Asia in particular, being our kind of two geographies that we'd expect most of that growth to be coming from in the short term.

May 5, 2026 / receipt, needs a key / Mike, CEO | earnings call 2026-05-05 | transcript dad7df1a-e31e-4d2f-8ab4-bc601a8634b6 | chars 30361-30626 | segment 31

In travel, our hospitality solutions, formerly branded Certify, are continuing to grow well. Payment attachment is increasing and more volume is routing through Flywire as we replace legacy gateway processors with our solution.

May 5, 2026 / receipt, needs a key / Rob Orgel, COO | earnings call 2026-05-05 | transcript dad7df1a-e31e-4d2f-8ab4-bc601a8634b6 | chars 14746-14973 | segment 15

We estimate there's still an additional $2.5 billion of payment volume within our existing U.S. hospitality clients alone that we can capture. And we are investing also in an international rollout this year as we see the same fragmented workflows exist in other major travel and hospitality markets.

May 5, 2026 / receipt, needs a key / Rob Orgel, COO | earnings call 2026-05-05 | transcript dad7df1a-e31e-4d2f-8ab4-bc601a8634b6 | chars 15732-16031 | segment 16

In luxury and experiential travel, Q1 was our second largest quarter for ARR signings with 15 deals over $100,000. Car golf and traveling the fairways both left large horizontal processors for Flywire, drawn by operational efficiencies and the ability to replace a separate invoicing tool with a single workflow.

May 5, 2026 / receipt, needs a key / Rob Orgel, COO | earnings call 2026-05-05 | transcript dad7df1a-e31e-4d2f-8ab4-bc601a8634b6 | chars 16032-16344 | segment 16

Yeah. Yeah. So, uh, this is Mike again. Um, I haven't seen anything creep in. Obviously Q1 was good as, as Cosman mentioned in travel, you know, I would say, you know, I just point, you know, obviously something that, uh, causes, you know, us to continue to be prudent in how we talk about the year. It's early in the year. Um, You know, you've started to hear a little bit of disruption around, you know, oil availability for airplane travel. It's something we're watching closely, haven't seen any impacts yet.

May 5, 2026 / receipt, needs a key / Mike, CEO | earnings call 2026-05-05 | transcript dad7df1a-e31e-4d2f-8ab4-bc601a8634b6 | chars 35411-35923 | segment 36

Our objective remains durable free cash flow growth supported by disciplined expense management and capital allocation.

Feb 24, 2026 / receipt, needs a key / Mike, CEO | earnings call 2026-02-24 | transcript 659cbbdb-8f43-446b-b667-3e0e8ee93e8f | chars 27458-27577 | segment 28

Apologies if I missed it in the prepared remarks, but any color you can share on what's embedded in the outlet from a travel perspective, both including and excluding Certify and maybe how you're thinking about resource allocation of travel to sustain the growth that you guys saw in 25?

Feb 24, 2026 / receipt, needs a key / James Fawcett, other | earnings call 2026-02-24 | transcript 659cbbdb-8f43-446b-b667-3e0e8ee93e8f | chars 39657-39944 | segment 40

In our travel vertical, client momentum remains strong, helping to grow this business into a meaningful contributor to total company revenue.

Nov 4, 2025 / receipt, needs a key / Mike Massera, CEO | earnings call 2025-11-04 | transcript 859e416b-406a-4c71-9002-5c3beb5f007d | chars 3958-4099 | segment 4

We talked about, you know, domestic UK travel, you know, outside the US. So I would say we're certainly investing in those areas, but we're also being more efficient.

Nov 4, 2025 / receipt, needs a key / Cosmin, CFO | earnings call 2025-11-04 | transcript 859e416b-406a-4c71-9002-5c3beb5f007d | chars 46667-46833 | segment 47

Our business mix continues to exert downward pressure driven by travel and B2B verticals growing faster, which have higher credit card usage along with domestic transaction growth in the education vertical.

Nov 4, 2025 / receipt, needs a key / Rob, other | earnings call 2025-11-04 | transcript 859e416b-406a-4c71-9002-5c3beb5f007d | chars 23502-23708 | segment 23